Financial market analyst Hamad Al-Olayan said the companies owned by the Public Investment Fund are of interest to international and local investment firms.
Al-Olayan explained in an interview with Al-Arabiya that he offers a 10% stake. Tadawul Holding Group He has seen an acceleration in the buying process by investors.
Al-Olayan indicated that the quota offered is “small” compared to the total quota held by the Public Investment Fund (60%).
And he indicated that this operation is similar to other operations that the fund has made on shares such as “STC”, explaining that “this is the policy of the Public Investment Fund, which requires not to freeze large sums in companies whose interest rate growth is not as great as it was in the past”.
In another context, he said that the Saudi stock market is somewhat isolated from the movement of oil prices and global and US markets, after the announcement of quarterly results of companies and the occurrence of declines.
He believes the third quarter is one of the toughest seasons for the Saudi market, amid sharp fluctuations, and the market has lost most of its year-to-date gains.
